Why is HP Adhesives falling/rising?

As of 23-Sep, HP Adhesives Ltd is experiencing a decline in its stock price, currently at Rs 48.18, which reflects a decrease of Rs 1.45 or 2.92%. The stock has underperformed its sector by 2.36% today, touching an intraday low of Rs 47.81, which is a drop of 3.67%. Over the past week, the stock has decreased by 3.72%, while its one-month performance shows a slight increase of 1.95%. However, the stock has significantly underperformed over the year, with a staggering decline of 49.31% compared to a 3.33% drop in the Sensex. The company has a low Debt to Equity ratio of 0.02 times and an attractive valuation with a Price to Book Value of 2.4, but its profits have fallen by 23.7% over the past year, which may be contributing to the negative sentiment surrounding the stock.
In the broader market context, HP Adhesives' recent performance contrasts sharply with the benchmark Sensex, which has shown a modest increase of 0.98% over the past month. The stock's falling investor participation, with a delivery volume drop of 43.94% against the five-day average, indicates waning interest among investors. Additionally, while the stock is trading at a discount compared to its peers' average historical valuations, the overall negative returns over the past year and the recent underperformance relative to the sector suggest that investor confidence is low, contributing to the stock's current downward trajectory.